Color correction and suite capability are the two benefits that Photoshop has over PSP. Beyond that, PSP can do just about everything "editing" wise that PS does -- with the addition of unique tools for handling vector shapes that PS has a difficulty dealing with unless you port over to Illustrator. My preference is for Photoshop, but that's becuse while I hate it more than just about anything, I know it. And what you know is always better than what you don't -- until you learn it....

thou and I, my friend, can, in the most flunkey world, make, each of us, one non-flunkey, one hero, if we like: that will be two heroes to begin with. (Carlyle)